NYT and Justin Wolfers Get it Wrong, the U.S. ...Comments for NYT and Justin Wolfers Get it Wrong, the U.S. Is Doing Very Well in Translating Weak Growth Into Jobs at http://www.cepr.net , comment 1 to 2 out of 2 commentshttp://www.cepr.net
Tue, 31 Mar 2015 15:47:06 +0100FeedCreator 1.7.3the question beggedhttp://www.cepr.net/index.php/blogs/beat-the-press/nyt-and-justin-wolfers-get-it-wrong-the-us-is-doing-very-well-in-translating-weak-growth-into-jobs#comment-24407
So if other (most?) countries with depressed output are doing better than the US, are they producing an even higher proportion of low productivity jobs?
If so, is it of concern that this is a very widespread phenomenon? - pjmSat, 08 Jun 2013 07:41:27 +0100More or Less, Less with More, More with Less: Those are the Questionshttp://www.cepr.net/index.php/blogs/beat-the-press/nyt-and-justin-wolfers-get-it-wrong-the-us-is-doing-very-well-in-translating-weak-growth-into-jobs#comment-24404
[quote]... translating economic growth into job growth.[/quote]
When producing more with less it is essential that those producing more earn enough to buy what they produce in the aggregate to maintain full employment.
If less is produced with more it is essential that those producing less all have a job to produce sufficient total income to buy what they produce as well.
When violating these two conditions as America systematically does with either underpaid wages, underemployment, or both, it will always end up with both less growth and productivity at the same time. - Last MoverSat, 08 Jun 2013 05:44:52 +0100